17386. Clyde Savings Bank (Clyde, OH)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
November 3, 1883
Location
Clyde, Ohio (41.304, -82.975)

Metadata

Model
gpt-5-mini
Short Digest
1d91a4b2

Response Measures

None

Description

Multiple articles report the Clyde bank (referred to as Clyde Savings Bank in one piece) suspended payment on Nov 3, 1883 after the cashier (P. W. Parkhurst) absconded/was missing and a receiver (D. A. Heffner) was appointed. Reports indicate suspected defalcation/embezzlement and appointment of a receiver, i.e., permanent closure. No independent depositor run prior to suspension is described.

Events (1)

1. November 3, 1883 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Cashier P. W. Parkhurst disappeared/absconded; suspected defalcation and mismanagement/embezzlement leading to suspension and appointment of receiver D. A. Heffner.
Newspaper Excerpt
The Clyde bank closed its doors and suspended payment yesterday. D. A. Heffner was appointed receiver.
Source
newspapers

Newspaper Articles (12)

Article from Evening Star, November 3, 1883

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Article Text

Business Failures in Ohio. SUSPENSION OF THE CLYDE BANK. CINCINNATI, OHIO, Nov. 3.-A dispatch to the Commercial Gazette, from Clyde, Ohio, says: "The Clyde bank closed its doors and suspended payment yesterday. About $60,000 are held on deposit. D. A. Heffner was appointed receiver. E. H. Southland, hardware dealer, assigned to G. P. Huntly in consequence of the bank's failure. His assets and liabilities are not known.


Article from Public Ledger, November 3, 1883

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Bank Failure. CLYDE, 0, November 8.-The Clyde Bank E uspended payment yesterday. Cashier H. W. Harkness left Wednesday night and had not returned last night, The deposits amount to $60,000 or $70,000. It is supposed this can be made good by the remaining partners, A. Richards and D. A. Harkness. No defalcation is suspected. D. A. Heffner has been appointed Receiver. E. H. Southland, a hard= ware dealer, has assigned to G. H. Huntly, in consequence of the bank failure.


Article from Lancaster Daily Intelligencer, November 3, 1883

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A Bank Suspends Payment. CLYDE, O., Nov. 3.-The Clyde bank has closed its doors and suspended pay. ment. About $60,000 are held on deposit.


Article from The Dallas Daily Herald, November 4, 1883

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Disappeared--Assignment. CLYDE, O., Nov. 3.-The Clyde bank has suspended payment Cashier Parkhurst disappeared Wednesday night. Deposits to the amount of nearly $70,000, it is supposed can be made good by the remaining partners, Richards and Harkness. No defalcation As suspected. E. H. Sutherland, a hardware dealer, has assigned in consequence of the bank's failure.


Article from The Cheyenne Daily Leader, November 4, 1883

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Another Defaulter. Clyde, O., November 3.-The Clyde bank suspended payment yesterday. The cashier, W.P. Parkhust, left Wednesday night and had returned last night. The deposits in the bank amount to from sixty to seventy thousand dollars. It is supposed that this can be made good by the remaining partners, A. Richards and A. Harkness.


Article from Wheeling Sunday Register, November 4, 1883

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A Clyde Bank Saspends. CLYDE O.,November 3 -The - Clyde bank suspended payment yesterday in cash, P. W. Parthinst left Wednesday night and had not returned last night The deposits amount to $60,000 or $70,000. It i. supposed this can be made good by the remaining partners, A. Richards and D A. Harkbors. No defaication is suspected and D. A. Heffner was appointed e eive.


Article from The Daily Cairo Bulletin, November 4, 1883

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HIS ALLEGED MILLIONAIRE UNCLE. Miss McNeil said, last evening, that she was not anx ous to appear against Osborn, but she has been subpænaed and will have to give her testimony. Osborn is 27 years old, and was born in Sag Harbor. He had something to do with the duel between the students of the College of Physicians and Surgeons which didinot take place last ng. Two at R Time. CLYDE, Ohio, Nov. 3. -The Clyde Bank sustained payment yesterday. The cashier, P. W. Parkhurst, left Wednesday night, and had not returned last night. Their deposits amount to $70,000. It is supposed this can be made good by the remaining partners, A. Richard and D. A. Harkness. No defalcation is suspected. D. A. Heffmer has been appointed receiver. E. H. Southland, a hardware dealer, assigned to G. P. Huntley, in consequience of the bank Sailure.


Article from The Waco Daily Examiner, November 4, 1883

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BANK FAILURE. CLYDE, Ohio, November 3.-The Clyde bank has suspended payment. Cashier Parkburt disappeared Wednesday night. The deposits amount to nearly $70,000. It is supposed it can be made good by the remaining partn 'rs, Richards and Harness. No.defalcation is suspected. E. H. Southland, hardware dealer, suspended in consequence of the bank failure.


Article from The Daily Telegraph, November 4, 1883

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News By Telegraph. HOME INTELLIGENCE. :0: A Bank Failure in Ohio. CINCINNATI, OHTo, Nov. 3.-A dispatch to the Commercial-Gazette from Clyde, Ohio, says that the Clyde bank closed its doors and suspended payment yesterday. About $60,000 are held on deposit. D. A. Heffner, appointed receiver. E. H. Southland, dealer, assig ned to Y. R. Huntly in consequence of bank's failure.


Article from The Sun, November 4, 1883

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PRICE THREE CENTS. A BANK CASHIER MISSING. ANOTHER oHΓo BANK ROBBED BY ITS TRUSTED OFFICAL. Locking the Vault and Leaving the Bank in Charge of the Clerks-He Alone Possessed of the Secret of the Combination Lock. CLEVELAND, Nov. 3.-Ohio bank cashiers have a weakness for speculating with other people's money. Fitch. the defaulting cashier of the Warren Bank, is now locked up in the Cleveland jail, and two other cashiers who are defaulters are still at large. Another name, that of P. W. Parkhurst of Clyde, is-now added to the list. Clyde is a small town about seventeon miles from Sandusky. It is the home of many wealthy people. Among these are Albert Richards and D. Harkness, who are the principal stockholders in the Clyde Savings Bank. and carry on a general banking business. P. W. Parkhurst was also a stockholder. but in a small way. Some years ago he was appointed cashier of the institution, and was looked upon as the head of the concern. He acted as President. Vice-President, director. and cashier to a certain extent. He is a man of middle age, is a member of the Methodist Church. and teaches a class of boys in the Sunday school. Two years ago he was elected township and village Treasurer. He was also made Treasurer of the village School Board. He handled all the Stownship and village funds. He was vory generally respected until last night, when it was noised abroad that he was suspected of being a defaulter. On Wednesday Cashier Parkhurst left the bank at about P. M. He took several hundred dollars from the desk. and ordered it charged to his account. Ho locked up the vault, and left the business in charge of two clorks. He then went to his home, and was seen soon afterward to board the evening train for Sandusky with a small satchel in his hand and an overcoat on his arm. On Thursday morning the bank clerks awaited the coming of the cashier before beginning business for the day. They are still waiting. The cashier, who nlone has the secret of the combination lock of the vault. is missing. The bank accepted deposits from customers, but declined to pay out any money. making the statement to all applicants that the cashier was outof the city, and the vault could not be opened. Yesterday morning the bank was closed and a notice of suspension posted on the door. Messrs. Richards and Harkness. the leading stockholders, met and consulted. They concluded to be easy with the missing cashier. To-day they sent out the report that there was no defalcacation. The opinion prevails that the trouble was caused by injudícious management on the part of the cashier. it being pretty well known that he was holding a large amount of paper of parties not considered by good judges to be altogother sound. The amount on deposit will probably not fall short of $75,000. of which amount only n small proportion is believed to be actually in the bank vault. Richards and Harkness have Ideclared (their intention of making good the full amount of the bank's loss. The vault has not yet been opened. and therefore the real condition of affairs cannot be stated. David Heffner. a well-known citizen. has been appointed as receiver of the bank. It is asserted on good authority that the accounts of Parkhurst relative to the finances of the township. village. and School Board are in such a mixed condition that an investigation will be a matter of necessity. The bank's failure has completely demoralized the business of the town. E. Southland. a leading hardware merchant. said last night that the failure was a severe blow to him. He soon afterward closed his store and made an assignment to George P. Huntley, a business acquaintance. He is unable to make public his assets and liabilities. They will not be over $25,000. It is rumored that several other business houses will be compelled to close their doors.


Article from The Portland Daily Press, November 5, 1883

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GENERAL NEWS. Arthur B. Johnson, a lawyer and wellknown politician of Utica, N. Y., was found dead in his office Saturday morning with a pistol ball in his breast. It is thought he committed suicide while suffering from depression. A Canadian Pacific Railway express train over the Port Arthur branch bore down a heavy trestle work at Hawk Lake, Manitoba, Friday, and precipitated the entire train into the gerge below. No lives were lost. The Dominion government had prohibited the running of trains on this branch for several years. Adjutant General King reports that the negroes in Texas are dissatisfied with exclusive cars*for their accommodation, and say that train men on the Texas Central, where the system has just been inaugurated, are compelled to take the colored people out of the cars assigned to the whites. At the election of officers of the National Woman's Christian Temperance Union, in Detroit, Mich., Saturday, Miss Frances E. Willard was unanimously re-elected president. Judge Hawes, in the Circuit Court, at Chicago, Saturday morning, sentenced a man named Zimmerman to six months in the county jail for the attempted bribery of a juror in the interest of the Northwestern Railroad, which was being sued for personal damages. The great exposition of the New England Manufacturers' and Mechanics' Institute, in Bston, closed Saturday night with a very large audience, at least 30,000 people being present. The exhibition was the most creditable of the kind ever seen in New England, and its profits aggregaate $20,000. Bishop Gilmour, in a statement which he has given to the press, denies the report that three nuns had left the convent in Cleveland. Wm. L. Dickinson, superintendent of schools of Jersey City, N. J., the past 20 years, died Saturday. Charles S. Lee was drowned in Boston harbor Saturday afternoon while sailing with a companion. Noah Bishop, a veteren of 1812, died at Waterbury, Conn., Saturday, aged 88. J. Bancroft Davis will probably succeed Judge Otto as official register of the United State Supreme Court. Louis G. Whittier, of the Manchester Locomotive Works, is missing, with $250 which he collected for rent. H. Parker of Chicago, general western passenger agent of the Grand Trunk Railway, has resigned. P. W. Parkhurst, cashier of the Clyde Bank, is at Clyde, O., has absconded. The bank closed and a receiver has been appointed. He got about $70,000. Ellery H. Andrews, a clerk in the Northwestern National Bank of Chicago, confessed three days ago to the embezzlement of $9500. Friday, while Robert Johnson, an employe in Sweet's oil refinery, at Parkersburg, Va., while on the top of the still, the heat and steam were thrown on, burning head and neck horribly. He leaped from the still and received injuries which may prove fatal. Rachel Layton, colored, of Trenton, N. J. died yesterday morning aged 106. Fire last night in Algiers, La., destroyed twenty houses. Loss $20,000. Comer alias Faulkner, a noted counterfeiter, and his wife were arrested near Frenchtown, Ind., Saturday. George Perry of Portsmouth, R. I., yesterday morning mistook a lodger named Dick Miller for a burglar and shot him. The Camp Cree half breeds are plundering ranches at White Earth, Dak., and driving off cattle. Commissionea General Morehead, of the world's exposition to be held in New Orleans next year, was in Boston, Saturday, in the interest of the exhibition. Thomas J. Gallagher of St. Louis has discovered that Mary Churchill is working in the laundry of an insane asylum, three miles from Indianapolis, Ind.


Article from The Daily Gazette, November 5, 1883

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A Sunday School Teacher Skips. (United Press Dispatch to the Gazette.] CLYDE, O., Nov. 3.-P. W. Parkhurst, cashier of Clyde Bank, has skipped and the bank is closed. Mr. Heffner has been ap. pointed receiver. Loss, about $70,000. The cashier was a Sunday school teacher.